Victor Ugochukwu · Dec 14, 2020 . 5min read
Mad Money’s Jim Cramer believes it’s not too late to invest in Bitcoin
The host of ‘Mad Money’ on CNBC, Jim Cramer states that it's not extremely late to invest in bitcoin and it is a great alternative to gold.
By Komal Joshi · Nov 25, 2020 . 6min read
Bitcoin’s price has erupted recently, going above $19,000, bringing its market capitalization to an all-time high. While investors are gaping whether it is extremely late to hop on the Bitcoin bandwagon, Jim Cramer, TV personality on CNBC’s Mad Money and long-time investor has addressed these questions. Jim Cramer took to his Twitter to address that he thinks it is not extremely late to invest in Bitcoin. He believes that it is an excellent alternative to gold.
Jim Cramer turns bullish on Bitcoin.
Jim Cramer has conversed about cryptocurrencies as part of his popular show “Mad Money” on CNBC media outlets and his Twitter account. However, he has not been quite optimistic about crypto assets earlier. It was only in September this year that Cramer declared himself a gold bug as he has “so much gold,” which he announced during a podcast interview with Anthony Pompliano. The Mad Money host became bullish on cryptocurrency in an interview with Anthony Pompliano on Sept. 15 stating that he recognizes Bitcoin is an excellent hedge against inflation and additionally said that his children could understand digital money.
Moreover, Cramer believes that a massive transformation in safe-haven assets is on its way. Jim Cramer contemplates that Bitcoin and cryptocurrencies would be the selection of the modern generation. He emphasizes that one can already see a modification in the generational mindset of saving wealth through bitcoin and cryptocurrencies.
Prominent investors turned to Bitcoin.
He further admits that perhaps he was struck in the past with some of his early estimates and gold wealth storage leveraging. He spoke about migrating from gold to Bitcoin. Recently, the U.S. billionaire Stanley Druckenmiller changed course on Bitcoin. He states that cryptocurrency has the potential to save value for the future generation. Druckenmiller earlier invested heavily in gold as a safe haven asset to defend himself from fiat illnesses. Nevertheless, he later said that he invested in some Bitcoins. He reiterated that he receives better returns than gold by investing in BTC.
Recently, Ricardo Salinas Pliego, Mexico’s second-richest man, is the latest billionaire to invest in BTC. He unveiled holding 10% of his liquid portfolio in the asset and asked followers to purchase a Bitcoin-focused book. Ricardo Salinas Pliego emphasizes that it is always suitable to expand one’s investment portfolio. Pliego also tweeted and promoted the book “The Bitcoin Pattern,” highlighting that BTC could protect citizens from “government expropriation.”
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